Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James, Love your work and that of the MM team. Question re: ABB - reported this week and seemed pretty solid result, with top line growth, subscriber growth and special div. Any thoughts or views around the sell off since result? Regards Andrew
Hi Andrew,
We thought it was a good result, ABB upgraded FY guidance and announced a (small) special dividend but as we’ve witnessed a few times this month it wasn’t enough. Revenue came in ~2% above expectations but the sellers appear to be focusing on the increased Capex guidance by around ~$20m. UBS upgraded to a buy post result and raised its price target by 22% to $4.80 illustrating that it wasn’t just MM that liked it. they see a CAGR of 26% pa for the next 3 years.
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